Prescott Man Given Eight-Year Prison Sentence for Investment Scheme

(Phoenix, Ariz. – March 6, 2007) Attorney General Terry Goddard announced that John Mendibles, 45, of Prescott, was sentenced today to eight years in prison for stealing more than $150,000 from 16 victims.

Mendibles admitted to selling fake shares in a tribal casino investment that didn’t exist. He pleaded guilty to charges of fraud, illegally conducting an enterprise, theft and transactions by unregistered dealers and salesmen in October 2006.

Mendibles was sentenced by Maricopa County Superior Court Judge David Cole. In addition to the prison term, Mendibles was ordered to serve seven years of probation and pay $167,798 in restitution to the 16 victims. Assistant Attorney General Theodore Campagnolo prosecuted this case following an investigation conducted by Agent Gary Clapper of the Arizona Corporation Commission’s Securities Division.